Retirement Starts Today

Would you want to raise your standard of living for half of what you live on now? Tim Leffel did, which is why he chose to uproot his family from their life in Nashville to move to a small city in Mexico. Tim is the author of the book A Better Life for Half the Price and he joins me today to discuss the pros and cons of living abroad. Don't miss the opportunity to learn how you can save money by l...

Despite the economic downturn, 2020 turned out to be a fantastic year for charitable giving. In this episode, we'll look at how people chose to give and you'll learn about the efficiency of giving through donor-advised funds (DAFs).  In the listener questions segment, you'll learn how to survive a bear market in retirement. We'll investigate the length of the average bear market and see how you ca...

We've all been sitting at home for the past year and now everyone is getting the travel bug. That's why today we're kicking off the Summer Travel Series with an interview with Lee Huffman. Lee hosts a podcast called  We Travel There  and he writes a frugal travel blog at  BaldThoughts.com . I've been curious about the world of travel hacking, so I have plenty of questions for Lee about using trave...

What is the number one travel goal for people approaching retirement? Disney! People young and old alike love to go to Disney. In my 15 years of retirement planning, I have discovered that a multi-generational trip to Disney is at the top of most people's bucket lists. That is why I have brought the world's foremost expert on Disney travel, Lou Mongello, on to Retirement Starts Today for an interv...

Since travel is on many soon-to-be retirees' must-do lists I have created this summer travel series with various travel experts. Danielle Desir from the  Thought Card podcast  joins me today to discuss how to travel to any destination on a budget. Recognized by Flight Network as one of the best travel hackers in the world, Danielle has figured out how to travel to bucket-list destinations on a dim...

Now is a great time to start financial and tax planning for the next year. To do so, you must first look at any changes that were made to tax laws. We'll do that by exploring 2 articles from  Forbes  and  CNBC  which take a closer look at any imminent changes to the tax code. Then we'll dive into the main segment with an article from  Investment News  which claims that fewer retirees are claiming...

Have you ever filled out a questionnaire at your financial advisor's office? If you have, it was probably a risk tolerance questionnaire. I have my own opinions about them, but you'll have to wait until the end of this episode to hear what it is.  On this episode of Retirement Starts Today, we'll explore an article from  AdvisorPerspectives.com  written by Dr. Wade Pfau and Alex Murguia which argu...

Do you let news headlines affect your choices? The Center for Retirement Research at Boston College wanted to learn more about this question, so they conducted a study to find the answers. In this episode of Retirement Starts Today, we'll take a look at the findings of this study and analyze how people's misconceptions can influence their life choices in retirement. After checking out the retireme...

Our chances of death are 100%, so that means at some point in your life you will probably experience the death of a loved one, and you'll need to prepare for your own passing. Choosing the right executor can make a traumatic time more bearable. The role of executor is not an easy one, which is why it is important to choose wisely.  In this episode of Retirement Starts Today, you'll hear an intervi...

If you are like many Americans who watch the news, inflation is probably on your mind. Since the Covid 19 pandemic began costs have been rising. We are still facing the effects of the supply chain breakdowns brought on by the pandemic in addition to extreme worldwide weather events.  These events have led to an increase in the price of goods on everything from fuel to food to lumber. This type of...

The end of the year is coming up right around the corner, and you know what that means: it's time for end-of-the-year tax planning! However, this year's tax planning may look a bit different with new tax legislation making its way down the congressional pipeline. Many wealthy individuals are nervous about what the current regime has in store for them. This is why when I saw the headline  Tax Moves...

Do you wish that you could have a mulligan when it comes to taking your Social Security benefit? Once you file for Social Security, it seems like your decision is set in stone. But what if I told you that you have options to reverse your decision?  In this episode of Retirement Starts Today, we'll explore an  Investment News article  written by one of my favorite Investment News contributors, Mary...

 Do annuities give retirees a different attitude towards spending in retirement? In this week's retirement headlines, we'll examine an article that discusses the psychological benefits that retirees who shift their assets from savings to lifetime income enjoy. This group of retirees has more of a license to spend attitude and ends up gaining more enjoyment from their retirement savings.  Make sure...

 The annual Social Security beneficiary report was recently released and just like every other year that they release it, it has caused people to worry about their future. Social Security is a crucial, foundational element of most retirement income plans, so when you read headlines that it will run out soon how should you react?  Should you go about changing your retirement plans altogether? Shoul...

Have you been feeling the pull to retire? This feeling isn't constrained to those nearing retirement age; many people have been feeling the desire to quit their jobs lately. So many workers are considering a job change that this wave of people has begun what is called "The Great Resignation." I read about this phenomenon on  The Guardian website  in an article written by Elle Hunt. Elle considers...

In retirement, you have all the time in the world, but are you using your time wisely? I recently read an  op-ed article from CNBC  about the power of delegation and it got me thinking about the way we spend our time.  On this episode of Retirement Starts today, we'll explore that op-ed article, I'll share what I learned about inherited IRAs this week, and I'll answer a listener question about ret...

Since travel is on many soon-to-be retirees' must-do lists I have created this summer travel series with various travel experts. Danielle Desir from the  Thought Card podcast  joins me today to discuss how to travel to any destination on a budget. Recognized by Flight Network as one of the best travel hackers in the world, Danielle has figured out how to travel to bucket-list destinations on a dim...

 Do you have bond funds in your portfolio? Many people understand the way that bonds work, but they may not know how bond funds work. El has written in to ask this question which I will answer in the listener questions segment.  Before we get to that retirement question, we'll take a look at a MarketWatch article titled  Are You in Retirement Hell?  It was such a catchy title that I had to check i...

Are you preparing for a successful retirement? If you are, you'll need to consider more than just your finances because 80% of a successful retirement has nothing to do with money. However, when people focus on retirement planning, money is often the only thing they focus on. In the retirement headlines segment this week, we'll check out an  article from  Financial Advisor Magazine  titled Right W...

Do you have a case of frugality syndrome? Many of us are so used to saving and living frugally that we have a hard time pivoting from the accumulation stage of retirement planning into the distribution stage.  A recent retirement headline from  Advisor Perspectives  titled Overcoming the Frugality Syndrome caught my eye. This article discusses the difficulty that some retirees have in switching fr...

How's this for a headline?  I'm 62, unemployed, living off my savings, and waiting on Social Security — 'Can I go fishing for the next 25 years and forget about work?  It naturally caught my eye since there was fishing in the title! Today we'll check out this  MarketWatch article  and answer the headline's question as well as explore the additional recommendations the article mentions on ways to m...

What do you think about senior living communities? Would you want to move to one? According to a recent  WSJ article , occupancy in senior housing is on the decline despite the fact that baby boomers are aging and more of these communities are springing up all over the country. In the retirement headlines segment, we'll take a look at the reasons for this phenomenon. But before we get to the retir...

Has the Covid pandemic caused you to reevaluate your life and consider early retirement? If so, you are not alone. Now that we are starting to emerge from the pandemic, many Americans have a new 'life is short' mindset. This, coupled with an upswing in investments and home values is leading many affluent Americans in a rush to retire. Check out the retirement headlines segment where we explore a r...

Episode 200! I can't believe I've made it to this landmark episode. Thank you all for joining me on this journey and I hope you'll join me for the next 200. I enjoy looking back and reminiscing on previous episodes, but I don't have to go too far back to find my most recent favorite.  Episode 199  is one of my most recent favorites. In it, I interviewed world-renowned Disney expert, Lou Mongello,...

What is the number one travel goal for people approaching retirement? Disney! People young and old alike love to go to Disney. In my 15 years of retirement planning, I have discovered that a multi-generational trip to Disney is at the top of most people's bucket lists. That is why I have brought the world's foremost expert on Disney travel, Lou Mongello, on to Retirement Starts Today for an interv...